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On 6 March 2015, the Joint Committee of the European Supervisory Authorities published a consultation on new draft ITS concerning credit assessment of external credit assessment institutions on an objective scale of credit quality steps under Solvency II. Such assessments are to be utilised in the calculation of the solvency capital requirement. It is intended that the methodology should mirror the approach proposed by the EBA for banking as closely as possible. Responses are invited by 10 April 2015.

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